Basware, a pioneering entity in AP automation and invoice processing, has recently acquired AP Matching, enhancing its position in the financial technology landscape.
Basware leverages advanced technology to streamline invoice management processes. AP Matching specializes in cloud-based solutions for invoice and statement reconciliation, significantly easing the responsibilities of accounts payable teams.
The acquisition aims to merge Basware’s comprehensive AP automation with AP Matching’s specialised reconciliation capabilities, offering a unified solution that promises increased accuracy in financial data and cost savings. This strategic move is set to transform the entire invoice processing cycle, addressing critical challenges faced by finance and accounting departments.
Basware has been a leader in the AP sector for nearly four decades, enhancing invoice processing efficiency through its AI-driven platform. It supports enterprises by automating tasks from receipt to payment, ensuring compliance and reducing manual errors. AP Matching, on the other hand, provides a robust platform for reconciling buyer and supplier statements, delivering accurate financial records into ERP or S2P systems with minimal manual input.
This integration will bolster CFOs’ capabilities in maintaining financial integrity, reducing risks associated with incorrect payments, and ultimately enhancing cash flow forecasting. The acquisition not only strengthens Basware’s market offering but also solidifies its commitment to delivering top-tier financial technology solutions globally.
Basware CEO, Jason Kurtz, said, “CFOs often struggle to oversee the complexities of invoicing processes end-to-end, which can lead to erroneous payments slipping through the gaps. The repercussions of failure in statement reconciliation is money lost from a company’s P&L (profit and loss statement).
“But it can be fixed and automated. We’re excited to combine forces with AP Matching, so that CFOs can enhance their AP automation processes and increase the accuracy of financial recording. We’re on a mission to unlock the future of finance and provide the best end-to-end technology to drive value for our customers. With AP Matching, we will do just that.”
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